Bill > H3354

This bill requires large nonprofits in South Carolina with annual gross revenues over one billion dollars to prepare a detailed report if they conduct a significant reduction in force (layoffs) involving more than 100 employees. The report must outline all economic and procedural benefits the nonprofit receives under state law, including the monetary value of tax credits, deductions, exemptions, and administrative advantages. The nonprofit must explain why these benefits are necessary for its operations and provide specific reasons for the reduction in force. Within 30 days of the layoffs, the organization must submit this report to the Senate Finance Committee, House Ways and Means Committee, and local county governing bodies where the nonprofit is located. These committees must place the report on their meeting agendas within 60 days of receipt, and if the General Assembly is not in session, they must do so within 60 days of reconvening. Additionally, the nonprofit must make its representatives available to testify at these meetings. The bill defines a reduction in force as the elimination of a position without intending to replace it and will take effect upon the Governor's approval.

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https://www.scstatehouse.gov/billsearch.php?billnumbers=3354&session=126&summary=B